Cara Therapeutics Inc. (CARA) Receives New Coverage from Analysts at HC Wainwright
Stock analysts at HC Wainwright initiated coverage on shares of Cara Therapeutics Inc. (NASDAQ:CARA) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set a “buy” rating on the biopharmaceutical company’s stock.
Several other brokerages have also recently weighed in on CARA. Piper Jaffray Cos. reiterated an “overweight” rating and set a $16.00 price target on shares of Cara Therapeutics in a research report on Friday, September 23rd. Cantor Fitzgerald set a $24.00 price target on Cara Therapeutics and gave the company a “buy” rating in a research report on Thursday, September 15th. Zacks Investment Research cut Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Stifel Nicolaus reduced their price target on Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, August 5th. Finally, Needham & Company LLC reduced their price target on Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Sunday, August 7th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.69.
Shares of Cara Therapeutics (NASDAQ:CARA) opened at 7.56 on Thursday. The stock’s market capitalization is $206.25 million. The stock’s 50 day moving average price is $6.99 and its 200 day moving average price is $6.18. Cara Therapeutics has a one year low of $4.26 and a one year high of $18.12.
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Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.42) by $0.06. The company earned $0.08 million during the quarter, compared to the consensus estimate of $0.13 million. The company’s quarterly revenue was down 91.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.25) EPS. Equities research analysts predict that Cara Therapeutics will post ($1.81) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. ProShare Advisors LLC raised its stake in shares of Cara Therapeutics by 2.0% in the second quarter. ProShare Advisors LLC now owns 22,880 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 444 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Cara Therapeutics by 0.3% in the second quarter. Teachers Advisors Inc. now owns 30,838 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 101 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Cara Therapeutics by 73.5% in the second quarter. Rhumbline Advisers now owns 33,028 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 13,987 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Cara Therapeutics by 3.1% in the second quarter. California State Teachers Retirement System now owns 44,054 shares of the biopharmaceutical company’s stock worth $212,000 after buying an additional 1,325 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Cara Therapeutics during the second quarter worth about $249,000. 48.67% of the stock is currently owned by hedge funds and other institutional investors.
Cara Therapeutics Company Profile
Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. The Company is engaged in developing product candidates that focus on the body’s peripheral nervous system.
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